ODP (NASDAQ:ODP) Shares Cross Above 200-Day Moving Average – Should You Sell?

The ODP Corporation (NASDAQ:ODP)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.03 and traded as high as $28.00. ODP shares last traded at $28.00, with a volume of 2,108,600 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ODP. Noble Financial downgraded shares of ODP from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, September 23rd. UBS Group lifted their price objective on shares of ODP from $19.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ODP in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ODP has a consensus rating of “Reduce” and an average target price of $28.00.

ODP Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.45 and a current ratio of 0.91. The stock’s 50-day moving average is $27.94 and its 200 day moving average is $24.03. The stock has a market capitalization of $843.30 million, a PE ratio of -80.00, a P/E/G ratio of 0.62 and a beta of 1.15.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.32. ODP had a negative net margin of 0.14% and a positive return on equity of 12.84%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company earned $1.75 earnings per share. ODP’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, equities analysts expect that The ODP Corporation will post 3.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in ODP by 597.6% in the third quarter. JPMorgan Chase & Co. now owns 97,407 shares of the specialty retailer’s stock valued at $2,713,000 after buying an additional 83,444 shares during the last quarter. Verition Fund Management LLC grew its position in shares of ODP by 164.1% during the third quarter. Verition Fund Management LLC now owns 232,734 shares of the specialty retailer’s stock worth $6,482,000 after acquiring an additional 144,614 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of ODP in the 3rd quarter valued at $4,550,000. Prelude Capital Management LLC raised its position in ODP by 38.8% in the 3rd quarter. Prelude Capital Management LLC now owns 16,164 shares of the specialty retailer’s stock valued at $450,000 after purchasing an additional 4,518 shares during the last quarter. Finally, Nomura Holdings Inc. raised its position in ODP by 915.9% in the 3rd quarter. Nomura Holdings Inc. now owns 116,822 shares of the specialty retailer’s stock valued at $3,253,000 after purchasing an additional 105,323 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

About ODP

Office Depot, Inc (NASDAQ: ODP) is a leading provider of office products, services and solutions designed to help individuals and businesses improve productivity and efficiency. Headquartered in Boca Raton, Florida, Office Depot operates a network of retail stores under the Office Depot and OfficeMax brands alongside a comprehensive e-commerce platform. The company caters to a diverse customer base that includes home offices, small- and medium-sized businesses, large enterprises, educational institutions and government agencies.

Through its retail and online channels, Office Depot offers a broad portfolio of office essentials such as paper, writing instruments, filing supplies and ink and toner, as well as technology products including computers, tablets, networking equipment and related accessories.